I don't have a pound key, but yeah 500 quid as well.
Sorry, didn't mean to give the impression that I am in the habit of spending $500 on DC each year. Just that under that amount I wouldn't check with DH nor expect him to check with me for anything not just for DCs. We are in the fortunate position where we can do that and we are very aware that it is a fortunate position.
We mostly do Christmas and Birthdays only and DS often chooses to do something as opposed to get something, like legoland instead of a present for his birthday.
I say No a lot, I would say 99% of the time, but every now and then I say Yes. Any moaning or whinging or begging would get an absolute No so he doesn't bother and learned that real quick. I don't mind him saying 'Hey Mum, this is cool can I have it?' if he has saved his own pocket money then he checks whether he is allowed (i.e. whether it is appropriate) but if he wants something and I am feeling indulgent then yes I will buy him stuff.
It is mostly Lego TBH, he has lots of lego and he makes some most excellent creations (built his own board game last week, complete with written rules and a lego die).
He saves and saves and saves for the creations so I don't think he is terribly spoiled and he has a good grasp of how much things cost and how his dad works hard to make the money. DS2 is only a baby so is still entertained with some tupperware and a spoon.
We are lucky, our kids are lucky. You can teach them good values and still indulge them sometimes.